Franklin Resources Inc. Buys 182,878 Shares of National Storage Affiliates Trust (NYSE:NSA)

Franklin Resources Inc. grew its holdings in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 140.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 312,929 shares of the real estate investment trust's stock after acquiring an additional 182,878 shares during the quarter. Franklin Resources Inc. owned 0.41% of National Storage Affiliates Trust worth $11,863,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NSA. Nomura Asset Management Co. Ltd. boosted its holdings in National Storage Affiliates Trust by 5.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 90,880 shares of the real estate investment trust's stock valued at $3,445,000 after purchasing an additional 4,650 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of National Storage Affiliates Trust in the fourth quarter valued at approximately $1,449,000. Norges Bank bought a new stake in shares of National Storage Affiliates Trust in the fourth quarter valued at approximately $26,737,000. WINTON GROUP Ltd acquired a new stake in National Storage Affiliates Trust during the fourth quarter worth approximately $5,055,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in National Storage Affiliates Trust by 5.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,570 shares of the real estate investment trust's stock worth $1,819,000 after acquiring an additional 2,541 shares during the period. Institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NSA. Robert W. Baird cut their target price on National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Barclays reduced their price objective on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft upgraded shares of National Storage Affiliates Trust from a "sell" rating to a "hold" rating and dropped their target price for the company from $40.00 to $38.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Finally, Mizuho initiated coverage on National Storage Affiliates Trust in a report on Wednesday, April 9th. They set a "neutral" rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $41.28.

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Insider Activity

In other National Storage Affiliates Trust news, Director Michael J. Schall bought 4,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $38.54 per share, with a total value of $154,160.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company's stock, valued at approximately $231,240. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.00% of the company's stock.

National Storage Affiliates Trust Price Performance

NSA traded up $0.38 on Monday, reaching $34.91. The stock had a trading volume of 25,193 shares, compared to its average volume of 655,631. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 20.42 and a beta of 1.04. National Storage Affiliates Trust has a fifty-two week low of $30.88 and a fifty-two week high of $49.44. The firm has a 50-day moving average of $37.42 and a 200-day moving average of $39.97.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.41. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The business had revenue of $190.12 million during the quarter, compared to analyst estimates of $185.37 million. As a group, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 6.53%. National Storage Affiliates Trust's payout ratio is 200.00%.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of December 31, 2023, the Company held ownership interests in and operated 1,050 self storage properties, located in 42 states and Puerto Rico with approximately 68.6 million rentable square feet, which excludes 39 self storage properties classified as held for sale to be sold to a third party.